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Industry News: MJSA’s Vision Award Winners; U.S. Leads Diamond Market; Are Conflict Diamonds Back? June 11, 2014 (0 comments)
Conflict Diamonds: It’s Not Over Yet!
Antwerp, Belgium—Authorities last week reported seizing a parcel of diamonds that may have come from the Central African Republic, reports National Jeweler. The country, which is in the midst of civil war, has had its rough diamond exports banned by the Kimberley Process since May 2013 for fear that the rebels who overthrew former president François Bozizé are using diamonds to fund their operations. This would qualify stones from the CAR’s alluvial mines as conflict diamonds—though even without the fairly narrow Kimberley Process definition of conflict diamonds, the brutality of the civil war raging there is enough to alarm NGOs and human-rights watchdog groups and prove that even after more than a decade, the issue is far from permanently resolved.
It’s been well documented that the Millennial generation—the lion’s share of bridal consumers—are socially conscious shoppers. Indeed, responsible sourcing is one of the key selling points of Forevermark diamonds, as well as Rio Tinto’s, and laws such as the Dodd-Frank Act seek to put provisions into place to prevent gold from regions of conflict from reaching U.S. consumers.
U.S. Market Still Leads World In Diamond Demand
Tel Aviv, Israel—China’s massive population may be catching up to the United States in terms of overall diamond demand, but if the actions of key diamond producers and traders are any indication of where the market strength still lies, it’s still in the West. According to a report last week in the Israel Diamond Industry newsletter, both Russia and India are actively courting the U.S. market, with less emphasis on China. State-owned Russian diamond producer Alrosa recently forged a memo of cooperation and understanding with New York’s Diamond Dealers Club, while India’s Gem and Jewellery Export Promotion Council held a press conference in Las Vegas to announce its renewed interest in the American market.
Certified Polished Diamond Prices Steady in May
New York, NY—Diamond markets were quiet with stable prices in May, as the trade focused on the United States ahead of the Las Vegas jewelry shows, Rapaport reports. Polished diamond trading at the show was in line with expectations: there was steady demand for affordable VS-SI commercial-quality goods, but demand for better-quality large stones was relatively weak.
The RapNet Diamond Index (RAPI) for one-carat diamonds fell 0.4 percent in May. The RAPI for 0.30-carat diamonds was flat, and RAPI for 0.50-carat diamonds rose 0.8 percent. RAPI for 3-carat diamonds increased 0.4 percent during the month.
The Rapaport Monthly Report for June 2014, titled “Steady Markets,” noted that sentiment remains positive after the first quarter of 2014 yielded strong results for the diamond trade. Activity slowed during the second quarter as expected, while consumer markets in the U.S. and Hong Kong continue to report healthy growth.
Diamond trading is expected to remain at steady but slightly subdued levels as inventory across the pipeline is relatively full. Wholesale and retail jewelers are anticipated to focus on filling orders rather than buying diamonds to build further inventory.
The complete report is available here.
MJSA Announces 2014 Vision Awards; CAD/CAM and Digital Marketing Added
Attleboro, MA—MJSA has announced the winners of its 2014 Vision Awards. This year’s contest added awards for good use of CAD/CAM technology and digital marketing, along with awards for the creative use of laser welders. Overall, the contest, celebrates outstanding overall design excellence, future of design entries (students), and custom design.
Categories were open to independent or company-employed U.S. and international jewelry designers. The Future of the Industry Award was open to any student enrolled in an art, design, or jewelry-related program at a college, university, or technical school. The judging panel included jewelry designers, manufacturers, and trade editors, who considered originality, presentation quality, effective use of materials, wearability, and the design’s perceived manufacturing and marketing potential. Winning pieces will be displayed at the 2015 MJSA Expo New York show.
Winners were:
- First Place Professional Excellence (4+ Years in Business): Moonstone ring, Leon Mege, Leon Mege Inc., New York City. Ring pictured at top of page.
- First Place CAD/CAM Distinction: Reversible palladium pendant, Robin Waynee, Ryan Roberts Ltd., Santa Fe, NM
- First Place Professional Excellence (1-3 Years in Business): “Flowing Colors” pendant, Evan DeJonghe, Evan Maxwell Design, Saratoga Springs, NY
- Second Place Professional Excellence (1-3 Years in Business): “Arachnophobia” ring, Nghi Nguyen, NGHI Design, Brooklyn, NY
- First Place Laser Distinction: Garnet ring, Ryan Roberts, Ryan Roberts Ltd., Santa Fe, NM
- First Place Custom Design Distinction: Siamese Cat pendant, Chelsea Knights, Mark Schneider Design, Long Beach, CA
- First Place Digital Marketing Distinction: Danielle Ginsberg, Mark Schneider Design, Long Beach, CA
- First Place Future of the Industry (Student): “Cacophony of Harmony” neckpiece, Jinbee Park, Fashion Institute of Technology, New York City
- Second Place Future of the Industry (Student): “Primavera” dissymmetrical ring, Dora Kovacs, Studio Jewelers, New York City.
To see photos and full descriptions of the winners, click here